Common use of Power, Authorization and Enforceability Clause in Contracts

Power, Authorization and Enforceability. The Depositor has the power and authority to execute deliver and perform the terms of each of the Transaction Documents to which it is a party and to acquire, own and sell the Receivables and the other Trust Property and has duly authorized the sale of the Receivables and other Trust Property to the Issuer by all necessary action. The Depositor has authorized the execution, delivery and performance of the terms of each of the Transaction Documents to which it is a party. Each of the Transaction Documents to which the Depositor is a party is the legal, valid and binding obligation of the Depositor enforceable against the Depositor, except as may be limited by insolvency, bankruptcy, reorganization or other laws relating to the enforcement of creditors’ rights or by general equitable principles.

Power, Authorization and Enforceability. The Depositor has the power and authority to execute execute, deliver and perform the terms of each of the Transaction Documents to which it is a party and to acquire, own and sell the Receivables and the other Trust Property and has duly authorized the sale of the Receivables and other Trust Property to the Issuer by all necessary actionparty. The Depositor has duly authorized the execution, delivery and performance of the terms of each of this Agreement and on the Closing Date, the other Transaction Documents to which it is the Depositor will be a partyparty will have been duly authorized, executed and delivered by the Depositor. Each of the Transaction Documents to which the Depositor is or will be a party is the legal, valid and binding obligation of the Depositor enforceable against the Depositor, except as may be limited by insolvency, bankruptcy, reorganization or other laws relating to the enforcement of creditors’ rights generally or by general equitable principles.

Power, Authorization and Enforceability. The Depositor has the power and authority to execute deliver and perform the terms of each of the Transaction Basic Documents to which it is a party and to acquire, own and sell the Receivables and the other Trust Property and has duly authorized the sale of the Receivables and other Trust Property to the Issuer by all necessary action. The Depositor has authorized the execution, delivery and performance of the terms of each of the Transaction Basic Documents to which it is a party. Each of the Transaction Basic Documents to which the Depositor is a party is the legal, valid and binding obligation of the Depositor enforceable against the Depositor, except as may be limited by insolvency, bankruptcy, reorganization or other laws relating to the enforcement of creditors’ ' rights or by general equitable principles.

Power, Authorization and Enforceability. The Depositor has the power and authority to execute deliver and perform the terms of each of the Transaction Documents to which it is a party and to acquire, own and sell the Receivables and the other Trust Property and has duly authorized the sale of the Receivables and other Trust Property to the Issuer by all necessary action. The Depositor has authorized the execution, delivery and performance of the terms of each of the Transaction Documents to which it is a party. Each of the Transaction Documents to which the Depositor is a party is the legal, valid and binding obligation of the Depositor enforceable against the Depositor, except as may be limited by insolvency, bankruptcy, reorganization or other laws relating to the enforcement of creditors’ rights or by general equitable principles.

Power, Authorization and Enforceability. The Depositor has the power and authority to execute execute, deliver and perform the terms of each of the Transaction Documents to which it is a party and to acquire, own and sell the Sold Receivables and the other Trust Property and has duly authorized the sale of the Receivables and other Trust Property to the Issuer by all necessary action. The Depositor has authorized the execution, delivery and performance of the terms of each of the Transaction Documents to which it is a party. Each of the Transaction Documents to which the Depositor is a party is the legal, valid and binding obligation of the Depositor enforceable against the Depositor, except as may be limited by insolvency, bankruptcy, reorganization or other laws relating to the enforcement of creditors’ rights or by general equitable principles.